Pyidaungsu Hluttaw discusses housing scheme

 March 6, 2018

The 12th-day meeting of the seventh session of the second Pyidaungsu Hluttaw was held yesterday. At the meeting, deputy ministers from the Ministry of Planning and Finance and Ministry of Construction answered questions on the request for a loan of 15 billion Japanese yen (approx. US$141 million) from the Japan International Cooperation Agency (JICA) for the Ministry of Construction’s residential housing development plan, sent by the President’s office.

Deputy Minister U Kyaw Lin said that any property with a value lower than Ks 10 million is considered low-cost housing, and the ministry grants a 15-year instalment plan for people unable to pay upfront. He said the ministry identifies people who cannot afford to buy housing for a period of five years, after which it helps low-income households to buy property.

He said the government was trying to make it possible for middle-income households to own property by adopting the public-private partnership (PPP) model and investing in low-cost housing. He explained that the low-interest loan from JICA would help the government’s housing scheme, if the Pyidaungsu Hluttaw approved it. The Pyidaungsu Hluttaw reviewed the proposal and then approved it.

Later, U Aung Tike from Seikpyu constituency and Daw Htu May from Rakhine constituency (11) led a discussion on a submission from the President’s Office to amend the ASEAN Comprehensive Investment Agreement. Daw Htu May said the agreement would enable Myanmar to enter the ASEAN economy and make investments. She said the government needed to create job opportunities, in tandem with carrying out the agreement, so that the public can see the results of the agreement. U Maung Maung Win, Deputy Minister for Planning and Finance, then explained the plans for the ASEAN agreement.

The Hluttaw then discussed a submission from the President’s office to review the 1995 UNIDROIT Convention on Illegal Trading and Theft of Cultural Artefacts for Myanmar to sign. U Saw Htun Mya Aung from Papun constituency voted for the signing, as he believed it would help Myanmar recover its losses. Union Minster for Religious Affairs and Culture Thura U Aung Ko said he was in favour of the 1995 UNIDROIT, as it would help recover ethnic cultural artefacts that have been smuggled into neighbouring countries through the borders. The Hluttaw approved the submission.

Myo Myint, Aye Aye That

Ref; The Global New Light of Myanmar